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Prices for Polish rebar continue to decline due to weak demand

Europe

Prices for Polish rebar decreased during the week until Friday, August 29, due to weak demand from factories

Prices for Polish rebar continue to decline due to weak demand

Polish rebar prices had been declining for a week until Friday, August 29, due to sluggish demand, when factories resorted to production cuts to prevent further price drops, Fastmarkets sources said.

Market participants noted that during the week rebar prices fluctuated around 2400-2430 zlotys (656-664 dollars) per ton, excluding VAT. Last week, traders estimated the real rebar market at 2400-2450 zlotys per ton of CPT.

"There are not many opportunities for prices to decrease further - I think we have reached the bottom," one of the distributors told Fastmarkets, adding that the September decision to supply scrap metal to the market will not affect. supply prices can affect the market.

"Scrap is an important factor in the cost of long products, so we can expect a new price increase in September," the source said.

Meanwhile, Fastmarkets has learned that some factories in Poland have stopped accepting new orders for fittings and have reduced their production quotas in order to keep prices stable.

"We are not making money at current prices, so we will have to reduce production in September," said a source in the production association.

"We would rather agree to a reduction in production than a reduction in prices," a producer source added.

The weekly price estimate for rebar steel bars produced by Fastmarkets in the domestic market in Poland was 2400-2430 zlotys per ton on Friday, down by 20 zlotys from 2400-2450 zlotys per ton in the previous week.

Some reported that import prices for rebar from Germany are around 580-590 euros (676-688 dollars) per ton. Meanwhile, it was reported that prices for imported wire rod from Ukraine fluctuate around 540-550 euros per ton for shipments of over 1,000 tons.

Meanwhile, wire rod prices have remained stable this week.

The estimate of prices for domestic steel rod (drawing quality) supplied to Poland in Fastmarkets was as follows: 2580-2650 zlotys per ton on Friday, unchanged week after week.

David Montagner

Fastmarkets.com

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